Federal Court Blocks Trump From Imposing Sweeping Tariffs Under Emergency Powers Law

News Snapshot:

Washington: A federal court on Wednesday blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law, swiftly throwing into doubt Trump’s signature set of economic policies that have rattled global financial markets, frustrated trade partners and raised broader fears about inflation intensifying and the economy slumping. The ruling from a three-judge panel at the New York-based US Court of International Trade came after several lawsuits arguing Trump has exceeded his authority and left the country's trade policy dependent on his whims. Trump has repeatedly said the tariffs would force manufacturers to bring back factory jobs to...